News

270,000 late penalty notices cancelled by the Revenue - May 2, 2018
News Article

A response to a freedom of information request has revealed that HM Revenue & Customs (HMRC) cancelled 270,000 late penalty notices in 2016. However, this figure was dwarfed by the 610,000 cancellations in 2015 and…Read more

OTS calls for overhaul of ‘complex’ tax charges and reliefs - May 2, 2018
News Article

An overhaul of “the complex patchwork” of tax charges and reliefs affecting businesses throughout various stages of the business lifecycle is urgently required in order to stimulate growth among small and medium-sized enterprises (SMEs), the…Read more

1.3 million SMEs hoping to branch out internationally to boost growth - May 2, 2018
News Article

An annual survey suggests that some 1.3 million UK-based small and medium-sized enterprises (SMEs) intend to branch out overseas this year in a bid to expand their horizons and fuel their growth plans. According to…Read more

Workplace pension contributions more than double - May 2, 2018
News Article

The percentage of salary employers and employees must contribute to a workplace pension has increased from 6 April 2018. Employees will now contribute three per cent (up from one per cent) of their annual salary…Read more

Do you offer an EMI scheme? These are the new rules you need to know about - May 2, 2018
News Article

EU State Aid approval for the Enterprise Management Incentives (EMI) scheme expired on 6 April 2018, meaning any share options received after this date may not be eligible for tax reliefs. This is an important…Read more

Millions of people have not checked their online tax accounts for errors - April 3, 2018
News Article

Millions of people from across the UK could be paying more tax than they need to, it has emerged, after figures from HM Revenue & Customs (HMRC) showed that more than 15 million individuals have…Read more

Late payments in the spotlight after Carillion collapse - April 3, 2018
News Article

Small businesses in the UK have long been scourged by late payments, but the problem was brought into sharp focus earlier this year following the collapse of construction giant, Carillion, emphasising the importance of careful…Read more

Quarterly digital reporting to HM Revenue & Customs opens to self-employed individuals - April 3, 2018
News Article

Since March this year, self-employed individuals have had the option of reporting their income digitally to HM Revenue & Customs (HMRC) as part of a pilot of the Government’s Making Tax Digital (MTD) programme. The…Read more

HMRC takes new steps to tackle online VAT fraud - April 3, 2018
News Article

HM Revenue & Customs (HMRC) has been granted new powers to help combat online VAT fraud conducted on digital marketplaces. Originally outlined by the Chancellor in the 2017 Autumn Budget, the new powers – known…Read more

Are you one of the 90 per cent of businesses that are unprepared for GDPR? - April 3, 2018
News Article

With less than 60 days left until the deadline for compliance with the General Data Protection Regulation (GDPR), more than 90 per cent of UK small businesses admit they are not yet fully ready. In…Read more